RIL Chairman Mukesh Ambani and BP's chief Dudley seek clarity on gas pricing

Mukesh-Ambani-manmohban-singhRIL Chairman Mukesh Ambani and partner BP Plc's CEO Bob Dudley met Prime Minister Manmohan Singh and senior government officials to seek clarity on pricing of natural gas and other regulatory issues.

The duo urged the government to lay a clear roadmap for market driven pricing of natural gas, claiming that the current sub-market rates were responsible for weak investments.

They also held meetings with Planning Commission Deputy Chairman Montek Singh Ahluwalia and Law Minister Ashwini Kumar, and discussed their concerns on gas pricing.

After the meeting, Ahluwalia told reporters, "They are very concerned, they are very keen that government takes a view (soon). That process is underway."

He clarified that he was not able to tell Ambani and Dudley what the government was going to decide. He, however, assured them that there was an empowered group of ministers (EGoM), which would consider the C Rangarajan committee's recommendations on the issue.

Separately, an official from the Petroleum Ministry said that EGoM would meet soon to consider implementation of Rangarajan committee's proposed gas pricing formula, which would double the price of the fuel.

It was Mr. Dudley's second visit to India. He made a day-long stop in India on his way to Shanghai.